Fresno, Calif. A group that specializes in liquidation is set to buy the assets of Gottschalks when the bankrupt retailer sells itself at auction at the end of the month, according to the Associated Press.
According to documents filed recently with the U.S. Bankruptcy Court in Delaware, if the deal goes through, the company could close its stores by July 15.
The consortium of buyers includes liquidation specialists SB Capital Group of New York, Tiger Capital Group of Boston, Great American Group of Los Angeles and Hudson Capital Partners of Massachusetts.
The company filed for Chapter 11 bankruptcy protection in January. Unless a better bid comes in by March 30, liquidation sales will proceed at Gottschalks' stores.